Equities research analysts predict that The Shyft Group, Inc. (NASDAQ:SHYF – Get Rating) will report sales of $194.25 million for the current quarter, according to Zacks. Two analysts have made estimates for The Shyft Group’s earnings, with the highest sales estimate coming in at $194.50 million and the lowest estimate coming in at $194.00 million. The Shyft Group reported sales of $197.89 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.8%. The firm is expected to announce its next earnings report on Monday, January 1st.
On average, analysts expect that The Shyft Group will report full year sales of $1.14 billion for the current year, with estimates ranging from $1.14 billion to $1.15 billion. For the next financial year, analysts expect that the business will post sales of $1.27 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover The Shyft Group.
The Shyft Group (NASDAQ:SHYF – Get Rating) last issued its quarterly earnings data on Thursday, February 24th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.09. The Shyft Group had a return on equity of 28.57% and a net margin of 6.95%. The company had revenue of $277.30 million during the quarter, compared to analyst estimates of $232.48 million. During the same period in the prior year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 61.6% compared to the same quarter last year.
Shares of NASDAQ SHYF opened at $29.96 on Wednesday. The firm has a market capitalization of $1.05 billion, a PE ratio of 15.77 and a beta of 1.58. The company has a fifty day moving average of $39.65. The Shyft Group has a 12-month low of $29.57 and a 12-month high of $54.50.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 17th. Stockholders of record on Thursday, February 17th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Wednesday, February 16th. This is a positive change from The Shyft Group’s previous quarterly dividend of $0.03. The Shyft Group’s dividend payout ratio is 10.53%.
In other The Shyft Group news, Director Thomas R. Clevinger sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $39.27, for a total value of $196,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.88% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new position in The Shyft Group in the 2nd quarter valued at $580,000. Morgan Stanley increased its position in The Shyft Group by 100.3% in the 2nd quarter. Morgan Stanley now owns 103,409 shares of the company’s stock valued at $3,868,000 after acquiring an additional 51,778 shares in the last quarter. Ziegler Capital Management LLC grew its position in shares of The Shyft Group by 164.8% during the 3rd quarter. Ziegler Capital Management LLC now owns 361,854 shares of the company’s stock worth $13,754,000 after buying an additional 225,226 shares during the period. SG Americas Securities LLC acquired a new stake in shares of The Shyft Group during the 3rd quarter worth approximately $489,000. Finally, Tygh Capital Management Inc. grew its holdings in The Shyft Group by 25.3% during the third quarter. Tygh Capital Management Inc. now owns 274,092 shares of the company’s stock valued at $10,418,000 after purchasing an additional 55,356 shares during the period. Hedge funds and other institutional investors own 82.16% of the company’s stock.
About The Shyft Group (Get Rating)
The Shyft Group, Inc manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment manufactures and sells commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.
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